Australia shares falter on weak oil; NZ also down

March 9 (Reuters) - Australian share markets slipped on Thursday for a second day, dragged by materials, after losses in overnight oil prices sparked a heavy sell-off in the energy sector.

The S&P/ASX 200 index fell 18.45 points or 0.32 percent to 5,741.2 at the close of trade.

Oil prices dived 5 percent to their lowest this year on Wednesday, as U.S. crude inventories surged much more than expected to a record high, stoking concerns a global glut could persist even as OPEC tries to prop up prices with output curbs.